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Gujarat inks $1.5 bn green hydrogen deals with Torrent Power, Erisha eMobility
Industry News- Jan 08,24
Torrent Power has committed to constructing a green ammonia facility valued at 72 billion rupees as part of its broader initiative to invest 470 billion rupees in power projects within the state.
On January 5, 2024, the Indian state of Gujarat entered into memoranda of understanding (MoUs) with two companies, Torrent Power and Erisha E Mobility, marking commitments to develop green hydrogen projects with a combined investment of nearly $1.5 billion.
Torrent Power has committed to constructing a green ammonia facility valued at 72 billion rupees ($866 million) as part of its broader initiative to invest 470 billion rupees ($5.7 billion) in power projects within the state. The utility had recently established a green hydrogen subsidiary and participated in India's green hydrogen production subsidies auction, aiming to cover 18,000 tonnes annually. Additionally, Torrent Power initiated a pilot project in July of the previous year to incorporate 2.5% hydrogen by volume into the city gas grid in Gorakhpur, Uttar Pradesh.
Meanwhile, Erisha E Mobility, founded in 2021 by the Rana Group conglomerate, plans to invest $600 million in a green hydrogen plant. The company intends to collaborate with European partners for the plant, although specific details regarding its size and potential offtake remain undisclosed. Erisha E Mobility has also signed MoUs with Gujarat for a $180 million electric vehicle manufacturing facility and allocated $50 million for the installation of 100 charging points.
Source: hydrogeninsight.com
Gujarat
Green Hydrogen Projects
Torrent Power
Erisha E Mobility
Renewable Energy
Ammonia Facility
Electric Vehicle Manufacturing
Rana Group
India
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